Virginia bankruptcy laws were designed to help people eliminate debt. To best help people struggling with debt, Virginia provides two bankruptcy options.
You can learn more about these options on this page, or, if you want answers about how these laws may affect you right away, speak with a nearby Virginia bankruptcy lawyer.
For a free case evaluation with a local bankruptcy lawyer in Virginia, complete the free form:
Chapter 7 and Chapter 13 bankruptcy laws address different debt relief needs you might have. Virginia’s Chapter 7 bankruptcy laws may be able to offer life-altering help to those with little to no income, but lots of credit card debt.
Credit card debt, as well as medical debt, personal loans and payday loans, is considered unsecured debt. This type of debt may be discharged and retired entirely by filing bankruptcy.
People can also protect some or all of their property by taking advantage of the state’s exemptions.
Any property covered under Virginia exemptions will be protected from a liquidation sale. In most Chapter 7 bankruptcy cases there is no property sale.
For those who own a home or other valuable property, then Chapter 13 bankruptcy may be a better fit. They’ll also need some form of regular income.
In Virginia, Chapter 13 bankruptcy is commonly used by people who went into deep debt during a temporary setback, such as a job loss or injury. Now, they may have regained work, but are stuck with monthly fees and interests that are unmanageable.
Bankruptcy may help you get these debts under control by combing, consolidating and sometimes reducing these debts.
Creditors will stop calling, and you’ll make one monthly payment, instead of several, to a court-appointed trustee. This trustee will handle all of your debts in order.
A Virginia bankruptcy lawyer can help you navigate the state’s laws. Get answers to your questions, and know exactly how filing bankruptcy may impact your debt.
Start with a free bankruptcy case evaluation with a local lawyer in Virginia. Complete the free form on this page or call, toll free, at 877-349-1309 and we'll connect you right away.
Note: Keep in mind all laws are complex. If you need more information about filing bankruptcy in Virginia or want to fully understand how these laws affect you, please speak with a local attorney. Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.